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Ask HN: Why Facebook is the only company that creates their own cryptocurrency?

5 pointsby Biba89almost 6 years ago
Why salesforce or Asana or any other big b2b or b2c don’t create their crypto?

6 comments

randomvectorsalmost 6 years ago
Even in the most optimistic case, what's about to happen with Facebook's cryptocurrency will border on a straight up scam. Which is fitting both for their business model, their image and for the broader cryptocurrency space.
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el_dev_hellalmost 6 years ago
&gt; Why salesforce or Asana or any other big b2b or b2c don’t create their crypto?<p>A better question would be: why would Salesforce or Asana create their own cryptocurrency?<p>Cryptocurrency (and blockchain) are just tools. They are not needed in every business&#x2F;product. A new fancy hammer has been invented. It&#x27;s useless&#x2F;dangerous if I actually need a screwdriver.<p>I remember similar posts about Mongo DB a few years ago in web development circles.
mimixcoalmost 6 years ago
Because, other than a universal cryptocurrency like Bitcoin which already exists, there is no real use case for the fully distributed blockchain. What FB is making is a centrally controlled digital coin, no different from Beanz, an early attempt at the same thing. This is just a play by FB to get into fintech and try to take away some payments business from PayPal. There isn&#x27;t really anything decentralized or crypto about it.
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vikramkralmost 6 years ago
Lots if smaller companies have their own coins and did ICOs, Facebook is launching theirs now because they want to. Them wanting to do the thing is pretty much the driving force behind all of this. If it goes well, those other companies might want to as well. Though an asana coin would be the weirdest thing - task management on the blockchain!
gesmanalmost 6 years ago
Crypto for FB is an elaborate tracking system that could contribute to FB ad revenue.<p>For smaller companies it would be hard to gain any traction.
verdvermalmost 6 years ago
I think you missed JP Coin, by JP Morgan Chase.<p>Also, they are BS and unnecessary for the most part